My business idea: your thoughts?

[EricBraco]

I'm aware the most important part of starting a business is timing. The next "big" thing that is coming is legalization of marijuana. I'm aware the canabis industry is worth 6.7 Billion right now. And expected to grow to 30 Billion in 2021 (little over 3 years from now). To put that in perspective, 1 percent is 300 million.
My idea is to target the everyday home gardeners, the majority are older females that own their own homes "40-65" age. I want to provide very easily navigatable website that clearly provides education on how to grow your own canabis. With a website format that my demographic would like: layout, pictures, videos, coloring (avoiding all the typical "stoner" colors) etc... And if anyone outside of my democratic wants to use my site and buy from me that's just a bonus. I would make the site personalable with a story and use a real "mom" for the educational videos.
How I would makes money: provide product which backs my teaching.... from seed to harvest. I wouldn't sell the canabis itself but everything to grow it. I also was thinking of not selling seeds because there might be a legal issue there so instead providing a link to the states largest seed dispensary with a discount code included. Or they could just buy some at the local (now legal) canabis store.
I would appreciate anyone's and everyone's input on this, good or bad. Thank you - Eric

 

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[Azure]

Depending on where you live, growing cannabis at home may not actually be legalized. I know here in Canada its not really on the table.

If it is though, what do you plan to do to differentiate yourself from the education sources already out there with market share ?

 

[EricBraco]

Depending on where you live, growing cannabis at home may not actually be legalized. I know here in Canada its not really on the table.

If it is though, what do you plan to do to differentiate yourself from the education sources already out there with market share ?

Even now people grow their plants indoors "illegally", so that's a market for sure. I wouldn't promote illegal activitie for sure but that's up to them.
My market sque would be: very easily navagatable, video education, personable, visually stimulating, one stop shop. What's out there right now is only one or maybe two of those per site.
I'm not saying I know everything that's just my thoughts. Let me know what you think about this because any questions good or bad, or insight good or bad would only benefit me. Thank you for your reaponse

 

[maverick]

The most important thing about starting a business is execution. You've provided a general outline of an idea; no more, no less. Taking 1 percent of a big market isn't justification of the potential of an idea.

Some top-of-mind questions:
- Do older women (aged 45-60) actually grow marijuana?
- Do they have a need for finding information on how to do this better?
- How did you come by this demographic? Is it underserved?
- What is going to distinguish your website from the other tens of thousands of websites in the same space?
- How will you reach these people?
- How much do you expect it to cost to acquire 1 new customer? How much do you project to make per customer?
- How much money do you have to create content? How much content will you be creating? Will you be outsourcing this or creating it yourself?

I think it would serve you well if you would read up on these subjects. Take a look at the business model canvas for example to get to grips on how you can do some quick desktop research on ideas. It doesn't have to be academic but it shouldn't be as general as it is defined here.

The idea as it stands now has no legs. It sounds like something that you would hear in a local bar.

 

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[Azure]

Even now people grow their plants indoors "illegally", so that's a market for sure. I wouldn't promote illegal activitie for sure but that's up to them.
My market sque would be: very easily navagatable, video education, personable, visually stimulating, one stop shop. What's out there right now is only one or maybe two of those per site.
I'm not saying I know everything that's just my thoughts. Let me know what you think about this because any questions good or bad, or insight good or bad would only benefit me. Thank you for your reaponse

There is already a market for grower education, yes, despite it being illegal. However, unless small scale home growing is legalized across the board(I doubt it will be), the fsct that purchasing and consuming marijuana is now being legalized will have little effect on the size of that market. The average Joe isnt going to risk his home to seizure just because smoking weed is legal.

 

[EricBraco]

There is already a market for grower education, yes, despite it being illegal. However, unless small scale home growing is legalized across the board(I doubt it will be), the fsct that purchasing and consuming marijuana is now being legalized will have little effect on the size of that market. The average Joe isnt going to risk his home to seizure just because smoking weed is legal.

They won't take your home here in the states, I just read a man got caught with 80 plus plants and what he received was seizure of the plants and 2 years probabtion without any fines. But you did bring up a good point about other countries which I didn't think of before. Thank you this is what I started this thread for

 

[EricBraco]

The most important thing about starting a business is execution. You've provided a general outline of an idea; no more, no less. Taking 1 percent of a big market isn't justification of the potential of an idea.

Some top-of-mind questions:
- Do older women (aged 45-60) actually grow marijuana?
- Do they have a need for finding information on how to do this better?
- How did you come by this demographic? Is it underserved?
- What is going to distinguish your website from the other tens of thousands of websites in the same space?
- How will you reach these people?
- How much do you expect it to cost to acquire 1 new customer? How much do you project to make per customer?
- How much money do you have to create content? How much content will you be creating? Will you be outsourcing this or creating it yourself?

I think it would serve you well if you would read up on these subjects. Take a look at the business model canvas for example to get to grips on how you can do some quick desktop research on ideas. It doesn't have to be academic but it shouldn't be as general as it is defined here.

The idea as it stands now has no legs. It sounds like something that you would hear in a local bar.

This is a really great post with much insight. Let me start off by introducing myself just so you guys don't think I'm some knucklehead stoner kid off the street living under his moms roof.
I'm a 27 year old man happily married with no kids. I don't: smoke, rarely drink, gamble, do drugs or smoke marijuana. I have a good job in the aerospace industry and am on track to make over 100k this year. I have 30k cash that I have to put towards a business.
The 1 percent i referred to was just for reference, not a market goal. But would be nice no doubt, the the market I'm after I'm sure is well below 0.01% which is still about 3mil.
I have done research from site searching to looking into manufacturers in China etc.... example I found a led light that sells on amazon for 200 for 100 from a manufacturer from China. They even offer branding. I don't have time now to fully respond because I'm at work right now but I will respond soon. Thank you for your insight

 

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[Greg R]

I would appreciate anyone's and everyone's input on this, good or bad. Thank you - Eric

Ready...

Set...

START...

 

[Merging Left]

I think there is a market for this, in your target demographic. I think you have the pieces you need to get started. Go start you site and start putting out some high quality blog posts. Write guides on ideal conditions, how often to water, when the plant is able to be harvested, etc. See what kind of feedback you get.

If you gain some traction, you could look into product development, affiliate sales, AdSense, etc. In this particular space, I think the more you give away for free, the more you'll be able to make down the road. Your market is basically the intersection of people who like to garden and people who like to smoke pot. Nice and niche.

Your next post should be about how you've set up your domain (or just get a free wordpress site) and published your first article!

 

[MJ DeMarco]

I would appreciate anyone's and everyone's input on this, good or bad. Thank you - Eric

Given you follow the laws for California, I love the idea. I would just double check your numbers for monetization. Also, I would want to create your own branded merchandise, versus middlemanning stuff.

The biggest booms right now seem to be Crypto and Cannabis.

 

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